5 Steps To Buying A House In 2022

5 Steps To Buying A House In 2022

The worlds gone crazy, right? Every time we think we’re on top of the latest major event there seems to be another in its wake. Whilst spending most of 2020 inside, many of us have taken the time to really think about what matters to us, where we see our lives going, what we really want. Those of us who were fortunate enough to retain our jobs and work from home also discovered (albeit through forced isolation) how much we can save if we simply give up our social lives. Chances are if this is the case for you, you’re either looking to use those savings to make up for lost time or maybe buy a house. House prices are of course a nightmare, what’s new right? But if you’re thinking it might be the time for you, here are 5 simple steps to incorporate into your plans. 

1: Do Your Research 

Work out the basics such as areas you’d like to live in, styles and types of property you intend to buy, the standard of liveability you’d be happy to settle for. You can try out the online mortgage calculators to get an idea of how much you might be able to borrow. Research the current market for the areas you’d like to buy in with regards to how much over the asking price you are likely to have to bid and how frequently properties in your price range come up in that area. Most areas are on and upward trend and have been for quite some time, but some will be substantially higher than others. 

Outside of this internet-based research you should also be talking to your friends, family, co-workers or anyone else you know who has gone through the process or has some expertise to lend to you. Perhaps your friends, friend’s dad is in property finance, don’t be shy, make the most of the contacts you are offered. The more information you can gather at this stage the smoother the experience will be. 

House for sale in Abruzzo region, Italy.

2: View a Lot of Properties

Get on all the apps and websites, get used to stopping outside the real estate on your way to the supermarket. View as many as possible. Even ones you might not be considering buying. Get a feel for what is on the market, and what these properties are going for. This will help you get an idea of what you do and don’t like but will also likely point out some dealbreakers for you when it comes to actually making any offers. 

Get familiar with the home reports your real estate will provide you before a viewing. Chances are you’ll be conducting one of your own, but it helps to know what to expect. Get familiar with property terms, build a rapport with these professionals where you can. Who knows, you might find yourself hitting them up for some advice on property management services or remortgaging somewhere down the line. 

3: Hire an Experienced Mortgage Broker

Hopefully during your research stage you’ve had some recommendations for a decent mortgage broker. Who you settle on for this can make all the difference in your house buying experience. For most of us this will be the biggest purchase we have ever made, perhaps the biggest we will ever make, it’s important to hire someone you can trust. 

Careful you don’t find yourself with someone who is interested in making the most money they can from you, but also don’t be roped in by a seemingly cheap or low fee. Most, if not all, mortgage brokers will make a commission on what they recommend, if they are charging a higher rate, they may be taking advantage of you, but if they’re offering you a lower fee, be careful it isn’t due to a higher commission for a subpar mortgage – that thing will be with you for a good few years. 

4: Make an Offer

Once you’ve got everything in place, you’ve found your ideal new home and you’re confident that you want to take the plunge it’s time to make your offer. These days there seems to be more properties that are listed as ‘offers over’ than there are at ‘fixed price’ meaning you will have to take into consideration what your competition might offer. It’s an unfortunate competition but one that must be navigated well – you don’t want to over bid and pay more than you need to but equally, you don’t want to risk underbidding and missing out. This is where your market research will serve you. 

Once the offer is made and has been accepted, there may be some back and forth between yourself and the seller to reach a final agreement. These may include things such as the move in date and any other particulars. Then it will be time for your expertly picked mortgage broker to earn their keep. 

5: Move in and Decorate

Everything is settled, you have your keys you’re ready to prepare your new home design. Those of us on a budget may have opted to go for a bit of a fixer up to keep costs low and will have some work on our hands (perhaps with the help of the luxury home builders Melbourne has to offer). 

If you are fortunate enough to have some overlap time between moving out of your old home and into the new, then you can take a bit of extra time to decorate. Whether this means a full make over with beach homewarethat completes coastal interior design theme or simply a lick of paint on the walls and some fresh carpet, your new home will be ready to go in no time. 

For many the unpacking can be quite tiresome and tedious but once you have everything sorted and set up the way you like, you can plop yourself down on your couch and pat yourself on the back for a job well done. Until it’s time to start planning the housewarming at least..